§ 8-215
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/md/state-finance-and-procurement/8-215·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§8–215.
(a)A State unit may not issue bond anticipation notes under this Part III of this subtitle in a total principal amount that exceeds the authorized amount of the bonds in anticipation of the sale of which the notes are issued and sold.
(b)A State unit may not issue grant anticipation notes under this Part III of this subtitle in a total amount, including interest, that exceeds the amount of the grant in anticipation of the receipt of which the notes are issued and sold.